US INDIA TRADE RELATIONS
US, India fast-track $500 bn trade deal as JD Vance visits amid global tariff unrest
Amidst US-China trade tensions and reciprocal tariffs, Vice President JD Vance's visit to India underscores the urgency of finalizing the Bilateral Trade Agreement (BTA). Both nations aim to boost trade to $500 billion by 2030, focusing on energy, defense, and technology.
UK-India investment treaty lets companies sue government, sources say
India and the UK are set to include an Investor-State Dispute Settlement (ISDS) mechanism in their upcoming investment treaty, sources told Reuters. This provision allows companies to sue either government if policy changes are seen to harm their investments or profits.
India, US trade deal coming soon even as Vance claims India ‘took advantage’ of America, calls Modi tough negotiator
US Vice-President J D Vance has called Prime Minister Narendra Modi a "tough negotiator," asserting that India has benefited from the US. He anticipates India could be among the first to secure a trade agreement aimed at circumventing US tariffs. Negotiations are underway to rebalance the relationship, potentially opening India to American technology and agricultural products, fostering job creation.
India and Japan may get better trade deals with US amid its trade war with China: Jefferies
Amid US-China trade tensions, a Jefferies report suggests India and Japan could negotiate favorable deals with the US. However, these nations are unlikely to jeopardize their growing trade relations with China, their major trade partner. China has warned against deals harming its interests, highlighting the challenge for the US in isolating China through trade strategies.
China 'evaluating' US offer to negotiate tariffs; Beijing's door is 'open'
China considers Washington's offer for trade talks regarding Donald Trump's tariffs. The Commerce Ministry states Beijing is assessing the proposal. China demands the U.S. rectify its practices and remove tariffs. The U.S. expresses optimism for easing trade tensions. Scott Bessent hopes for de-escalation and a larger trade deal. Xi Jinping urges officials to adapt to international changes.
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India's total exports jump to record $825 bn in FY25 as services shipments rise over 13%
India's exports reached a record USD 824.9 billion in 2024-25, propelled by a surge in services exports to USD 387.5 billion. This represents a 6.01% growth over the previous year, with key sectors like telecommunications and financial services contributing significantly. However, concerns remain about order inflows from the US and Europe, prompting calls for government support.
Piyush Goyal meets Norway's foreign minister Eide, discusses India-EFTA trade pact implementation
Commerce Minister Piyush Goyal and Norwegian Foreign Minister Espen Barth Eide discussed implementing the India-EFTA Trade and Economic Partnership Agreement, aiming to boost trade and investment. EFTA's commitment includes promoting USD 100 billion in FDI to India over 15 years, potentially creating 1 million jobs.
Trump says 'China probably will eat those tariffs'; defends his trade war moves
President Trump defended his aggressive trade policies toward China, asserting Beijing would likely absorb the tariffs despite concerns about rising prices for American consumers. He dismissed economic anxieties, claiming the tariffs are a necessary reset of global economic relationships and a correction to past exploitation.
India, US push for early wins in trade talks, eye fall 2025 deal
India and the US are actively pursuing an initial phase of their proposed bilateral trade agreement, aiming for "early mutual wins." In-person sectoral discussions are scheduled to commence from the end of May, following fruitful talks in Washington.
Indian trade deal talks moving well, much easier to negotiate with India: US Treasury Secretary Bessent
The United States and India are nearing a trade agreement. Negotiations are progressing well due to India's high tariffs. US officials see potential deals with South Korea and Japan too. Earlier, reciprocal tariffs were suspended for many countries except China and Hong Kong. US Vice President JD Vance met Prime Minister Narendra Modi to advance trade talks.
India prepared to 'future-proof' trade deal as sweetener in US talks, sources say
India is reportedly considering a rare "forward most-favoured-nation" clause in trade talks with the U.S., ensuring Washington receives the best tariff terms India offers any nation. Eager for a swift deal, India has already made preemptive concessions, aiming to become a major supplier to the U.S. in sectors China previously dominated.
US again puts India on 'priority watch list' for alleged IP rights' violations
The United States has once again put India on its priority watch list. This is due to ongoing concerns about intellectual property protection. The US Trade Representative's report highlights inconsistencies in India's progress. Patent issues, long waiting periods, and interpretation of the Indian Patents Act are key concerns. Despite efforts, overall IP enforcement in India remains inadequate.
India, US make 'positive progress' on trade pact, govt says
India and the US have made “positive progress” in recent talks aimed at finalising a bilateral trade agreement, according to India’s commerce ministry. Officials from both sides discussed steps to conclude the first phase of a mutually beneficial trade pact by fall 2025.
One hundred days of attitude
Amidst rising India-Pakistan tensions following the Pahalgam attack, Trump offers India support while maintaining neutrality, acknowledging historical tensions. Despite initial solidarity, US counterterrorism interests in Pakistan temper a strong stance. Trump's early presidency is marked by policy reversals, particularly on tariffs and foreign policy, impacting global trade and relationships, including those with China and potentially India.
Is Donald Trump losing trade war? America's allies are slowly leaning towards China
Donald Trump's trade policies are causing shifts in global alliances. America's allies are seeking economic stability with China. Trump's tariffs impact American companies. Shipping containers at the Port of Los Angeles are down. Xi Jinping is strengthening ties with Vietnam, Malaysia, and Cambodia. China is reaching out to Japan and Europe. Nations are losing confidence in the United States.
US tariffs may erode Rs 2700-4500 cr of operating profits of Indian auto component exporters: ICRA
The Indian auto component industry is facing challenges due to newly imposed US tariffs, which could significantly impact exporters' earnings. ICRA estimates that the tariff-related impact may reduce operating profits by Rs 2,700-4,500 crore, affecting 10-15% of auto component exporters' profits and 3-6% of the overall industry's profits.
China shrugs off threat of US tariffs to economy, says it has tools to protect jobs
China's leaders are downplaying the impact of the US trade war under President Donald Trump, emphasizing their ability to protect jobs and mitigate the effects of higher tariffs on Chinese exports. Senior government officials have promised support for businesses and the unemployed, including easier lending conditions and policies to counter the tariffs, which could reach up to 145% on US imports from China.
Engineering goods exports from India reach record high in 2024-25, hit $116.7 billion
India's engineering goods exports hit a record high of USD 116.67 billion in fiscal year 2024-25. This represents a 6.74 percent increase. The United States was the top destination. There was growth in exports to the UAE, Singapore, and Nepal. Engineering exports outperformed overall merchandise exports. Concerns remain about global trade dynamics and potential impacts from US tariffs.
China insists no trade talks with US, despite Trump claim
China refuted claims of trade discussions with the United States. This came after President Trump suggested a conversation with Xi Jinping. China's commerce ministry previously denied any economic negotiations. Beijing reiterated that no tariff consultations or agreements occurred. They accused the US of misleading statements about ongoing dialogue.
India could grow at 6.5% in FY26; falling crude prices to support growth: EY
EY forecasts India's economy could grow by 6.5% in the current fiscal year, driven by lower crude oil prices, which are expected to ease inflation and support growth despite global trade tensions. The report highlights four key factors: reduced exports, global slowdown, falling crude prices, and global excess production. EY expects crude oil prices to remain in the range of $60-65 per barrel, benefiting India.
India trying to secure greater access for steel exports through FTA talks: Piyush Goyal
India is negotiating free trade agreements (FTAs) with several countries, including the US, EU, and UK, to secure better access for its steel exports, according to trade minister Piyush Goyal. The government is working on 10-12 FTAs to promote India’s high-quality, cost-effective steel sector.
Talks only if all unilateral tariffs gone, China tells US
China demands the US to revoke all unilateral tariffs, denying any ongoing trade deal talks, despite Trump's softened stance. Beijing insists on seeing sincerity and respect from Washington, including addressing concerns over sanctions and Taiwan, before engaging in negotiations.
US Treasury Secy says India likely to be first to sign trade deal with Washington
US Treasury Secretary Scott Bessent told reporters he expects India to negotiate the first bilateral trade pact with the United States ahead of the July 8 deadline, when a 90-day pause on a 26 percent “reciprocal” tariff on Indian goods is set to expire.
Hope to seal first phase of US trade deal by fall: FM Nirmala Sitharaman
India aims to finalize the first phase of a trade agreement with the U.S. by autumn, Finance Minister Nirmala Sitharaman said during her U.S. visit. Amid ongoing trade talks, she will attend IMF, World Bank, and G20 meetings. The effort coincides with a 90-day U.S. tariff pause and growing diplomatic engagement, including U.S. Vice President JD Vance’s visit to India.
China sees trade signals while JD Vance keeps it personal in India
U.S. Vice President JD Vance began a four-day visit to India amid efforts to finalize a trade deal before a 90-day tariff pause ends. Vance will meet PM Modi to discuss trade and geopolitical ties. China is closely watching the visit, which comes as India balances U.S. tariff pressures with its economic priorities and Make in India strategy.
India actively engaging with US; hopes to sign first phase of bilateral pact by Oct: FM
India is actively pursuing a bilateral trade agreement with the US, aiming to finalize the first phase by fall. Finance Minister Sitharaman emphasized the government's commitment during her US visit, highlighting discussions with the US administration and the Prime Minister's engagement. India is also focusing on becoming a developed nation by 2047, prioritizing key sectors and inclusive growth.
India must engage with China, US on equal terms: GTRI
Think tank GTRI advises India to maintain strategic autonomy while engaging with both China and the US, prioritizing economic interests and global trade principles. This comes amid China's warning of retaliation against nations aligning with US trade efforts. India's trade deficit with China widened to USD 99.2 billion in 2024-25, even as the US remains its largest trading partner.
Vance and Modi are likely to discuss a potential US-India trade deal. Here's what to know
U.S. Vice President JD Vance began a four-day official visit to India on Monday, with the goal of advancing economic ties and accelerating negotiations on a bilateral trade agreement. His visit comes amid escalating trade tensions between the U.S. and China, positioning India as a key strategic partner for Washington.
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